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Why InvenSense Soared

Is this meaningful or just another movement?

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What: Shares of InvenSense(NYSE: INVN) soared by as much as 30% after the company reported upbeat earnings and guidance.

So what: First-quarter sales totaled $39.2 million, with net income of $7.7 million, or $0.09 per share. That bottom-line result is just about what analysts were expecting. CEO Steven Nasiri said the company is encouraged by continued adoption of its Motion Interface offerings.

Now what: The company expects second-quarter sales to be in the range of $53 million-$57 million, on the high end of the consensus of $54.3 million. InvenSense launched its six-axis MotionTracking solution, which is seeing strong adoption already in smartphones and tablets, including "mid-range" devices. The company saw some limited availability in various other components but the Motion Interface family did well.

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Author

Evan is a Senior Technology Specialist at The Motley Fool. He was previously a Senior Trading Specialist at Charles Schwab, and worked briefly at Tesla. Evan graduated from the University of Texas at Austin, and is a CFA charterholder.